The duration and volume of foreign indebting bear an important issue for every economy no matter how developed it is. Foreign indebting, which is applied when domestic savings can not meet the planned investments, causes different results based on the economic structures and the way that they...

The duration and volume of foreign indebting bear an important issue for every economy no matter how developed it is. Foreign indebting, which is applied when domestic savings can not meet the planned investments, causes different results based on the economic structures and the way that they...

The duration and volume of foreign indebting bear an important issue for every economy no matter how developed it is. Foreign indebting, which is applied when domestic savings can not meet the planned investments, causes different results based on the economic structures and the way that they...

Governments in Latin America have traditionally faced significant difficulties in issuing debt denominated in local currency in international markets. However, three countries in the region have recently issued this type of debt, perhaps signalling a permanent change in the manner in which Latin...

Some recent evidence on government finance statistics of European countries suggests that countries with public debt issues also show a low tax revenue-GDP ratio. In this paper we develop a small open economy model of endogenous growth in which the engine of growth is public spending. We assume...

The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....

This paper studies the current state and drivers of the development of government local currency bond markets (LCBMs) in Sub-Saharan Africa, a region whose progress in developing such markets has only recently received attention in the literature. We argue that well-developed LCBMs could reduce...

Domestic bond markets in Latin America have expanded significantly over the past few years. This development should help reduce the region's historical dependence on external financing. Although much progress has been made, vulnerabilities associated with refinancing risk remain and secondary...

The policy initiatives taken by the Brazilian authorities since the beginning of the decade have helped markedly improve the structure of government debt and the overall liquidity of fixed income and related derivatives markets. Despite this progress, there is room for improvement in the...

There is broad evidence that various initiatives undertaken by the Mexican government have been successful in helping to develop the domestic government bond market. The market has grown rapidly, its maturity structure has lengthened and secondary market liquidity has improved. Primary market...